The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
Picture of Wayne Swan

Wayne Swan

Deputy Prime Minister and Treasurer

3 December 2007 - 27 June 2013

11 November 2008

NO.126

Treasurer to Meet Federal Reserve Chairman Bernanke

Today I will be meeting the Chairman of the US Federal Reserve Board, Ben Bernanke to discuss how the global financial crisis is unfolding and its impacts on the US and other economies.

We will also discuss the impact of recent policy responses designed to restore stability and confidence to global markets.

I will also hear from Chairman Bernanke about implementation progress on the Troubled Asset Relief Program (TARP) and other US initiatives to address the problems facing the US financial system.

We will also discuss the significant economic boost governments and central banks are providing to their economies right around the world, by way of monetary and fiscal policy, including the very significant fiscal stimulus announced by the Chinese authorities.

This was a major focus of G20 Financial Ministers and Central Bank Governors at meetings over the weekend in Brazil, and both the IMF and G20 Finance Ministers have called on countries to consider additional fiscal measures to stimulate their economies.

I will also be meeting with a number of financial sector policy experts, including former First Deputy Managing Director of the International Monetary Fund, Professor Anne Krueger of John Hopkins University.

I will be discussing with them how to strengthen the global financial system to ensure confidence is restored to markets in the short term, as well as how to restore stability to global markets in the medium and longer term.

WASHINGTON D.C.
11 November 2008